Revisor Wealth Management LLC Buys New Holdings in Salesforce Inc. (NYSE:CRM)

Revisor Wealth Management LLC purchased a new position in Salesforce Inc. (NYSE:CRM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 24,898 shares of the CRM provider's stock, valued at approximately $6,682,000. Salesforce accounts for approximately 3.0% of Revisor Wealth Management LLC's investment portfolio, making the stock its 8th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in the stock. Atlantic Union Bankshares Corp lifted its stake in Salesforce by 2.7% in the 4th quarter. Atlantic Union Bankshares Corp now owns 27,358 shares of the CRM provider's stock worth $9,146,000 after purchasing an additional 723 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Salesforce in the fourth quarter worth about $823,000. Heartland Bank & Trust Co boosted its stake in Salesforce by 117.2% during the first quarter. Heartland Bank & Trust Co now owns 5,981 shares of the CRM provider's stock valued at $1,605,000 after buying an additional 3,227 shares during the last quarter. Catalyst Funds Management Pty Ltd purchased a new position in Salesforce during the 4th quarter valued at approximately $5,249,000. Finally, Elwood Capital Partners LP bought a new stake in Salesforce in the 4th quarter worth approximately $1,337,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $272.48, for a total value of $613,080.00. Following the completion of the transaction, the chief executive officer owned 11,862,457 shares in the company, valued at $3,232,282,283.36. This trade represents a 0.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Miguel Milano sold 405 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $106,251.75. Following the completion of the transaction, the insider directly owned 9,933 shares in the company, valued at $2,605,922.55. This represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,534 shares of company stock valued at $7,609,842. Company insiders own 3.20% of the company's stock.

Salesforce Trading Down 1.0%

NYSE:CRM opened at $269.06 on Thursday. The firm has a 50 day moving average of $272.06 and a 200 day moving average of $292.92. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. Salesforce Inc. has a 52 week low of $230.00 and a 52 week high of $369.00. The stock has a market capitalization of $257.22 billion, a price-to-earnings ratio of 42.11, a PEG ratio of 2.46 and a beta of 1.36.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The firm had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. During the same quarter in the prior year, the business posted $2.44 EPS. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be paid a dividend of $0.416 per share. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.62%. Salesforce's payout ratio is currently 25.98%.

Analysts Set New Price Targets

A number of research firms recently weighed in on CRM. The Goldman Sachs Group raised their target price on shares of Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Royal Bank Of Canada cut shares of Salesforce from an "outperform" rating to a "sector perform" rating and dropped their price objective for the stock from $420.00 to $275.00 in a research note on Thursday, May 29th. Citigroup decreased their target price on shares of Salesforce from $320.00 to $295.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. UBS Group set a $404.00 price target on Salesforce and gave the stock an "overweight" rating in a research report on Wednesday, June 18th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $404.00 price objective (up previously from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $349.08.

Salesforce Company Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.

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